UK, Nigeria deepen trade ties with economic diversification dialogue
The United Kingdom and Nigeria have taken another major step towards strengthening bilateral economic relations with the launch of the UK-Nigeria Economic Diversification Dialogue in Lagos, Thursday.
The initiative, convened under the Enhanced Trade and Investment Partnership (ETIP) framework, builds on the momentum of the recently concluded Developing Countries Trading Scheme (DCTS) Roadshow held in Kano and Lagos States.
The high-level engagement brought together senior government officials, trade experts and private sector leaders from both countries to explore opportunities for expanding Nigeria’s non-oil exports.
Discussions centred on unlocking the potential of sectors such as agriculture, manufacturing and digital services, with the UK pledging continued support in trade facilitation, investment promotion and capacity building.
British Deputy High Commissioner to Nigeria, Mr. Jonny Baxter, reaffirmed the UK’s commitment to deepening trade relations, noting that bilateral trade between both nations stood at £7.9 billion in the 12 months ending March 2025.
He said the UK’s Developing Countries Trading Scheme (DCTS) offers Nigerian exporters significant tariff reductions and simplified trade rules, covering over 3,000 products including ginger, cocoa, sesame seeds, cashew nuts, soya beans and textiles.
“Today’s dialogue marks a significant milestone in the UK-Nigeria partnership,” Baxter said. “It reflects our shared commitment to driving inclusive and sustainable economic growth through strategic export diversification. By working together, government to government and with the private sector through programmes like Propcom+, we are unlocking new opportunities for trade, investment and innovation across key sectors.”
He added that the UK remains a steadfast partner in supporting Nigeria’s economic ambitions, highlighting ongoing collaborations with the Federal Ministry of Industry, Trade and Investment (FMITI) on standards and export readiness to ensure long-term prosperity for both nations.
Speaking on behalf of Ambassador Abba Nura Rimi, Permanent Secretary of FMITI, the Director of Trade and Investment, Mrs. Orji Gertrude, said the DCTS initiative comes at a crucial time when Nigeria is seeking to diversify its export base beyond oil and deepen its integration into global value chains.
She emphasised the need for Nigerian stakeholders to understand trade rules, product standards, and documentation requirements to fully benefit from the scheme.
According to her, partnerships with institutions like the UK’s Department for Business and Trade (DBT) will help reduce trade barriers, enhance competitiveness and ensure Nigerian products meet international standards.
Both countries reaffirmed their commitment to building resilient, diversified economies and promoting mutual prosperity through sustained policy innovation, knowledge sharing, and investment partnerships.
The dialogue concluded with a call for continued collaboration to advance trade and economic growth between Nigeria and the United Kingdom.
